I Have A Non-Resident Corporation. How do I open an HST account and why is that necessary?
Salman Rundhawa Answered question
In Canada, if your corporate sales are expected to exceed $30,000 CAD, you must open a GST/HST account.
GST/HST is a sales tax that Canadian consumers must pay at the time of purchase on most products and services. As a corporation, it is your responsibility to collect GST/HST from your customers and remit the GST/HST collected to the government.
In order to do that, you would have to file a HST return either on a quarterly or yearly basis to remit any resulting net tax owing. The net tax owing is the difference between the GST/HST collected and the GST/HST your corporation paid on business expenses and capital assets.
Salman Rundhawa Answered question
